TechFlow news, September 8 — According to The Block, Hyperliquid announced the launch of its own stablecoin USDH. Currently, four institutions—Paxos, Frax Finance, Agora, and Native Markets—have submitted bidding proposals, with Ethena also hinting at joining the competition. Each proposal has unique features: Paxos promises to allocate 95% of interest income to HYPE buybacks; Frax offers a zero-fee model and commits to a 4% annual yield; Agora guarantees 100% net revenue sharing. Hyperliquid will close the proposal submission on September 10 and finalize the winning bidder through validator voting on September 14.
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